Daily News 19

Tag: Tokenized U.S. Treasuries

  • BlackRock’s BUIDL Outpaces Circle’s USYC as Tokenized Treasury Race Heats Up

    BlackRock’s BUIDL Outpaces Circle’s USYC as Tokenized Treasury Race Heats Up

    BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) has narrowly overtaken Circle’s USYC to become the second-largest tokenized U.S. Treasury fund, highlighting the accelerating competition in the tokenized real-world asset (RWA) market.

    BUIDL and USYC compete for market share

    According to Token Terminal data, the total tokenized U.S. Treasury market is worth approximately $15.1 billion. BUIDL accounts for about $2.8 billion, giving it an estimated 18.5% market share. Nearly one-fifth of all tokenized Treasury assets are therefore held through BlackRock’s fund.

    USYC also recorded rapid growth in 2025, rising from roughly $600 million to nearly $3 billion. By late August 2026, the fund had reached approximately $2.9 billion, slightly above BUIDL’s estimated $2.7 billion at that point.

    In a separate market snapshot, Sky’s uSDS ranked first with a value of $4.4 billion, followed by BUIDL at $2.28 billion. Tether’s XAUT ranked third at $2.8 billion, while Circle’s USYC was listed fourth at $2.28 billion.

    However, XAUT is classified as a tokenized commodity rather than a tokenized fund. Excluding uSDS and XAUT, BUIDL and USYC remain closely matched, meaning new institutional inflows or withdrawals could quickly change their rankings.

    BlackRock’s position may also shift rapidly because the asset manager frequently records significant inflows and outflows across its Bitcoin [BTC] and Ethereum [$ETH] exchange-traded funds (ETFs), affecting their cumulative flow totals.

    BlackRock expands its tokenized fund offering

    The competition comes as BlackRock recently launched BSTBL on Ethereum and BRSRV on Solana [$SOL]. The tokenized money market funds are designed to serve as reserve assets for stablecoins.

    The development is significant because stablecoins now represent approximately $305 billion and have become a major source of on-chain liquidity. By offering similar institutional products on both Ethereum and Solana, BlackRock is providing capital access to both ecosystems while reinforcing the competition between $ETH and $SOL for liquidity.

    By late August, USYC had reached approximately $2.9 billion, slightly above BUIDL’s estimated $2.7 billion. BUIDL has since narrowly overtaken USYC, underscoring the growing competition among tokenized Treasury funds and the broader expansion of institutional RWAs.

  • RWA Market Growth Puts LINK, XLM, and ONDO in Focus

    RWA Market Growth Puts LINK, XLM, and ONDO in Focus

    The real-world asset (RWA) market is becoming increasingly difficult to ignore. Excluding stablecoins, tokenized real-world assets have grown 18.1 times in three years to $44.6 million, with institutional demand for yield-bearing products driving much of that expansion.

    Three tokens closely linked to the RWA infrastructure—$LINK, $XLM and $ONDO—are now approaching technically important price levels that could shape their next major moves.

    RWA Market Growth Is Driving New Demand

    Tokenized U.S. Treasury bills lead the market at $15.1 billion, followed by active yield strategies at $8.9 billion and private credit funds at $6.4 billion. However, the growth of tokenized assets is not simply a competition between blockchains offering the same function.

    Ethereum remains the dominant Layer 1 settlement network, accounting for roughly one-third of the tokenized asset market. Stellar and Avalanche have also become important issuance rails for institutional funds.

    The specialized protocols supporting this market are particularly important. Ondo Finance focuses on issuing and distributing yield-bearing traditional assets, including U.S. Treasuries, on-chain. Chainlink provides middleware through its oracle infrastructure and CCIP, including Proof of Reserves and connections between off-chain financial data and on-chain assets. Stellar offers a fast, cost-effective settlement environment and hosts financial products such as Franklin Templeton’s tokenized money market fund.

    $LINK Price Faces a Major Weekly Test

    $LINK has already bounced from an important demand area during August and is now approaching the 200-day exponential moving average (200-EMA) on the weekly chart near $13.83. This is the key resistance level bulls must overcome.

    A weekly breakout above that resistance could strengthen the case for a longer-term recovery and open the way toward higher price levels. Failure to break through, however, could send $LINK back toward lower support zones. The setup is promising, but the chart still needs confirmation rather than another speculative rally.

    $XLM Holds Support but Shows a Warning Signal

    $XLM is also showing a constructive setup after rising from a major ascending trendline that has previously triggered significant price moves. The token tested the 200-day EMA in August but has so far been rejected.

    If $XLM eventually flips that resistance on the weekly chart, $0.30 and $0.50 will become important levels to monitor. There is also a warning signal: a weekly death cross has formed between the 50-EMA and 200-EMA. If selling returns, a loss of the ascending trendline could expose $XLM to lower support levels.

    $ONDO Needs to Hold Its Long-Term Trend

    $ONDO may have the most fragile technical setup of the three tokens. Since early February, its weekly chart has maintained an ascending trendline following a major H2 2025 crash.

    That trendline is now critical. A breakdown could deepen the correction and potentially create a continuation pattern, with new all-time lows forming ahead. Conversely, $ONDO has not reclaimed its weekly 50-EMA since September 2025. If it finally does, $0.60 and $0.85 could become relevant recovery targets.

    The RWA market is expanding rapidly, but that growth does not automatically guarantee that token prices will follow. $LINK, $XLM and $ONDO are exposed to an expanding tokenization ecosystem; their charts now need to show that institutional growth can translate into sustained demand.

    Source: cryptonews.net